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FBI charges former Federal Reserve contract employee

Wednesday - 1/25/2012, 7:22am EST

The FBI has charged a former contract employee at the Federal Reserve Bank with stealing the software property code to a $9.5 million program.

The Justice Department says Bo Zhang admitted he copied the Government-Wide Accounting and Reporting Program code onto his hard drive. He then used the program in his personal computer training business.

Zhang could face up to 10 years in prison and a $250,000 fine.

This story is part of Federal News Radio's daily Cybersecurity Update. For more cybersecurity news, click here.